August 20, 2020
Farm Succession: Feasibility of Adding a Family Employee
Adding to a series about Farm Transition Planning, in this third episode on our Purdue Commercial AgCast series, we discuss how to evaluate if the farm can add an employee. As a farm expands, it is important to evaluate the feasibility of adding an operator and/or hired employees as well as the feasibility of purchasing or renting additional land, and machinery and equipment. Purdue agricultural economists Michael Langemeier and Brady Brewer discuss two critical factors: gross revenue and profitability.
The companion episodes in this podcast series can be found at “Farm Transition Planning”, June 24, 2020 and “Farm Succession: Transitioning Business Management”, July 22, 2020.
The article discussed in this episode, entitled “Is It Feasible For My Farm To Add An Operator Or Hired Employee?”, can be found here.
Join us Monday, April 12 at 3:30 p.m. EDT for an update on the corn and soybean outlook following release of USDA’s April Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. Registration is free but necessary to receive the link to join live or get notice of the webinar recording.Read More